Nuvectis Pharma (NASDAQ:NVCT) Stock Moved Down to “Sell” by Wall Street Zen

Nuvectis Pharma (NASDAQ:NVCT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Cantor Fitzgerald assumed coverage on shares of Nuvectis Pharma in a research note on Monday, August 24th. They issued an “overweight” rating for the company. Weiss Ratings raised shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 21st. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Nuvectis Pharma in a report on Thursday, September 24th. Lucid Cap Mkts raised Nuvectis Pharma to a “strong-buy” rating in a report on Tuesday, September 1st. Finally, Loop Capital set a $40.00 price target on shares of Nuvectis Pharma in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Nuvectis Pharma has an average rating of “Moderate Buy” and an average target price of $36.25.

Nuvectis Pharma Stock Up 17.7%

NASDAQ:NVCT opened at $20.91 on Friday. The company has a market cap of $682.50 million, a price-to-earnings ratio of -11.06 and a beta of -0.21. Nuvectis Pharma has a 52 week low of $5.55 and a 52 week high of $29.27. The company has a fifty day simple moving average of $20.89 and a two-hundred day simple moving average of $14.88.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.78). On average, analysts expect that Nuvectis Pharma will post -1.30 EPS for the current year.

Institutional Trading of Nuvectis Pharma

Large investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in Nuvectis Pharma by 10.2% in the 1st quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock valued at $115,000 after purchasing an additional 1,377 shares during the last quarter. Legal & General Group Plc acquired a new stake in Nuvectis Pharma in the second quarter valued at $31,000. Oppenheimer & Co. Inc. grew its holdings in Nuvectis Pharma by 17.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 86,291 shares of the company’s stock worth $1,822,000 after acquiring an additional 12,725 shares during the period. Avalon Trust Co bought a new stake in Nuvectis Pharma during the second quarter valued at approximately $257,000. Finally, Iridian Asset Management LLC CT boosted its stake in Nuvectis Pharma by 2.1% in the 3rd quarter. Iridian Asset Management LLC CT now owns 793,207 shares of the company’s stock worth $16,753,000 after purchasing an additional 16,129 shares in the last quarter. 96.77% of the stock is currently owned by institutional investors.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer, with an emphasis on cancers that have limited therapeutic options. The company is headquartered in Fort Lee, New Jersey, and its common stock trades on the Nasdaq Capital Market under the symbol NVCT.

Nuvectis Pharma’s lead product candidate is NXP800, an orally administered small-molecule inhibitor of heat shock protein 90 (HSP90). The company is evaluating NXP800 in clinical studies for certain advanced solid tumors, including platinum-resistant ovarian cancer and cholangiocarcinoma.